Markets

Oil Nears $100 a Barrel

Come on Vlad, they don’t make EV tanks yet… but hey Vodka burns…
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Oil Nears $100 a Barrel

Late Monday, the tension in Ukraine reached a tipping point as Russian troops entered separatist territories. The market opened Tuesday with oil prices at a 7-year high. The International benchmark, Brent Crude, neared $100/barrel before easing off to about $97/barrel.

How can Russia change the price of gas in Texas? Russia produces 10% of the world's oil and 1/3 of the natural gas in Europe. With Russia exporting less, and the west taking steps to impose financial sanctions on Putin, other sources for oil and liquid natural gas will be valued higher as the rest of Europe seeks to meet their energy needs through imports.

Telling it like it is - Come on Vlad, they don’t make EV tanks yet… but hey Vodka burns…

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